Definitions for "Letter Security"
security sold directly by the issuer to an investor, without SEC registration. Can be done only if the buyer signs and sends a letter of intent to the SEC, indicating that the purchase is for investment rather than resale. see also exempt securities, direct placement.
a stock or bond that is not registered with the Securities and Exchange Commission and cannot be sold in the public market
A security that is not registered with the SEC, and so cannot be sold publicly in the marketplace.